MyCorporation vs LegalZoom (Who’s Your Best Bet?)
Are you looking to form an LLC, but you don’t want to go it alone? Fortunately, there are companies out there like MyCorporation and LegalZoom that can help you with LLC service. But how do you know which company you should choose for your formation?
With this MyCorporation vs LegalZoom comparison, all the information you need to make a decision — from commonalities to major differences — is laid out in a convenient fashion. Hopefully this will make your choice a bit easier!
5 Things They Have In Common
- Affordable: Both of these LLC websites are hundreds of dollars cheaper than hiring an attorney to draft and file your formation documents. It’s a nice middle ground between the formality of a lawyer and the hassle of the DIY route.
- Help If You Need It: MyCorporation and LegalZoom have customer support systems that can really come through in a pinch. Any time you have a question, or you run into some unexpected trouble, all you have to do is pick up the phone.
- Experienced: These companies both handle high volumes of clients. With millions of customers served, LegalZoom and MyCorporation are two well-oiled LLC service machines.
- Additional Services: LegalZoom and MyCorporation have dozens of other services available. If you need a registered agent, or help with anything from foreign qualifications to annual reports, these companies have the resources to assist with those and many other requirements.
- Satisfaction Guarantees: Both MyCorporation and LegalZoom offer satisfaction guarantees. If you’re unhappy with your LLC service for any reason, all you have to do to get a refund is ask for one.
Side by Side Comparisons
With their base rate of $89 (before state fee), MyCorporation’s LLC service is significantly less expensive than LegalZoom’s $149 price tag.
LegalZoom and MyCorporation have some key differences that set apart their LLC formation services. LegalZoom includes a personalized operating agreement to define your LLC’s structure, as well as a banking resolution that helps you open business checking and/or savings accounts.
While MyCorporation doesn’t include anything interesting in their $89 package, if you pay an extra $10 to get their Standard package ($99), you’ll receive annual report service and a few sample documents.
Both of these providers are highly experienced. MyCorporation opened in 1995, and they’ve served over a million businesses since then. LegalZoom started back in 1999, and they have about 4 million total customers, with about half of those being business clients.
MyCorporation’s service department gets rave reviews from customers, as they frequently thank their support agents by name in their online reviews. Their customer service hours run from 10am to 8pm ET Monday through Friday.
At LegalZoom, their support gets somewhat mixed feedback. Some customers find their agents to be helpful, while some others see room for improvement. Honestly, this is a common issue for companies of their size and reach — the more reps you have, the higher the chance some of them might not be ideal hires.
One area where their customers seem to agree is how much they like LegalZoom’s extended support hours, as they answer the phone from 8am to 10pm ET on weekdays, and they also take weekend calls from 10am to 7pm ET.
With LegalZoom, processing times vary depending on which level of service you purchase: Economy (30 business days), Standard (15) or Express Gold (7-10). On the other hand, MyCorporation’s turnaround times vary based on your state of formation, as well as whether you choose to expedite your filing or not. In short, LegalZoom is faster in some states, while MyCorporation has them beat in others.
MyCorporation has status pages where you can view current info about your order. LegalZoom sends you order confirmation emails, and you can also check your status if you log into your account on their website.
Registered Agent Service
LegalZoom charges an annual fee of $159 for registered agent, whereas MyCorporation’s service costs just $120. Also, MyCorporation includes a full year of registered agent in both their Deluxe ($199) and Premium ($299) LLC service packages. (What is a Registered Agent?)
MyCorporation has hundreds of reviews available online, and nearly all of them are positive. As I mentioned earlier, many of their customers have highly complimentary things to say about MyCorporation’s support agents.
On the other hand, LegalZoom gets much more mixed reviews, with positive and critical feedback in roughly equal supply. There are plenty of satisfied customers out there, but they do seem to have some issues to iron out among their clients.
Ease of Use
Both of these companies sell products and services that are quite simple to use, which is one of the biggest selling points they have. They also each have fully featured and user-friendly websites.
LegalZoom and MyCorporation are both legitimate and capable companies which are worthy options for LLC service. I realize that some of you may still be undecided about which one you’d like to use, so let’s look over a couple scenarios where you might prefer one over the other.
Whichever route you choose to go, we wish you luck with your new LLC!
Choose MyCorporation if You Are:
Concerned about keeping costs down? Place a high value on customer feedback? These are a couple of the most common reasons people choose MyCorporation over LegalZoom.
Choose LegalZoom if You Are:
Is experience a top priority? How about brand power or customer volume? If these items are important to you, LegalZoom should be a nice fit.